REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
FOR |
ALBASENSE LTD |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 JUNE 2022 TO 30 APRIL 2023 |
FOR |
ALBASENSE LTD |
ALBASENSE LTD (REGISTERED NUMBER: SC598193) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Period 1 June 2022 to 30 April 2023 |
Page |
Abridged Balance Sheet | 1 |
Notes to the Financial Statements | 3 |
ALBASENSE LTD (REGISTERED NUMBER: SC598193) |
ABRIDGED BALANCE SHEET |
30 April 2023 |
30.4.23 | 31.5.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Debtors |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 6 |
Retained earnings | ( |
) |
The directors acknowledge their responsibilities for: |
(a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
(b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
ALBASENSE LTD (REGISTERED NUMBER: SC598193) |
ABRIDGED BALANCE SHEET - continued |
30 April 2023 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
ALBASENSE LTD (REGISTERED NUMBER: SC598193) |
NOTES TO THE FINANCIAL STATEMENTS |
for the Period 1 June 2022 to 30 April 2023 |
1. | STATUTORY INFORMATION |
Albasense Ltd is a |
Registered number: |
Registered office: |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Turnover and revenue recognition |
Turnover represents net invoiced sales of goods and services, excluding VAT. Revenue is recognised when goods and services are provided to the customer. |
Tangible fixed assets |
Plant and machinery | - |
Computer equipment | - |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
Current or deferred taxation assets and liabilities are not discounted. |
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the period end and that are expected to apply to the reversal of the timing difference. |
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
Pension costs and other post-retirement benefits |
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
ALBASENSE LTD (REGISTERED NUMBER: SC598193) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Period 1 June 2022 to 30 April 2023 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST OR VALUATION |
Additions |
At 30 April 2023 |
DEPRECIATION |
Charge for period |
At 30 April 2023 |
NET BOOK VALUE |
At 30 April 2023 |
Cost or valuation at 30 April 2023 is represented by: |
Totals |
£ |
Valuation in 2023 | 620,490 |
Cost | 749 |
621,239 |
MPAS Thin Film Dep System was valued on an open market basis on 3 August 2023 by PVD Solutions . |
The revalued asset has not been depreciated this year as the revaluation was performed post year end. |
5. | SECURED DEBTS |
The following secured debts are included within creditors: |
30.4.23 | 31.5.22 |
£ | £ |
Other loans |
A bond and floating charge was registered on Companies House on 28/10/22 in favour of the University of the West of Scotland. |
6. | RESERVES |
Revaluation |
reserve |
£ |
Revalued asset | 620,490 |
At 30 April 2023 |
7. | ULTIMATE CONTROLLING PARTY |
The controlling party is Dr D R Gibson. |